This happens all the time. Rich folks try to justify these sorts of acts of stupidity. In the end it is because they believe in trickle-down economics — give the money to the rich people, they will spend it on their luxurious and extravagant lives, and those of us at the bottom can fight over their scraps. Wow, such a valid economic theory!
Listen, folks, when you give someone that works full-time and makes $206/week an extra $44 per week, two very good things happen. #1, they have $44 more dollars to help scrap out a living. #2, the money goes instantly and directly back into the economy. It doesn’t go into a trust account somewhere to pamper affluent unborn great-grandchildren of today’s elite.
Let me point out another obvious economic fact: the cost of living goes up by 4%/year on average. When you compound this over the 7 years since the minimum wage was raised, it amounts to a 27% increase in the cost of living. People who work for minimum wage make much less than they used to in 1997.
Raising the minimum wage makes economic sense, it rewards hard work, is a path out of poverty and is something that every American should support. We should fire these rich Republican assholes who can’t see these obvious facts.